Fitch affirms Belgazprombank at ‘B’, Outlook Stable

Press office.

Fitch Ratings affirmed Belgazprombank’s Long-Term Issuer Default Rating (IDR) at 'B' with Stable Outlook.

Fitch affirms Belgazprombank at ‘B’, Outlook Stable

The affirmation of the IDR reflects Fitch's view of potential support Belgazprombank could receive, if required, from its shareholders (PJSC “GAZPROM” and Bank GPB (JSC)) due to the strategic importance of the Belarusian market and close political and economic ties between the two countries.  

Further increase of Belgazprombank’s Long-Term IDR is capped by Country Ceiling.  

The bank’s ‘b’ Viability Rating, which has also been affirmed, reflects Belgazprombank's reasonably stable and profitable financial performance indicators under current circumstances, traditional loan-quality, as well as its solid headroom of core capital. 

The rating actions in relation to Belgazprombank are as follows:

  • Long-term IDR affirmed at 'B', Outlook Stable; 
  • Short-term IDR affirmed at 'B';
  • Support Rating affirmed at '4';
  • Viability Rating affirmed at 'b'. 
For more details, please visit Fitch Ratings page

About the appointment of the Chairman of the Management Board of Belgazprombank and amendments to the positions of the members of the Management Board
Press office.

By the decision of the Board of Directors of Belgazprombank of 15 January 2021 Nadzeya Yermakova was appointed as the Chairman of the Management Board of Belgazprombank starting from 18 January 2021.

Fitch Affirms Belgazprombank at “B”
Press office.
Fitch Ratings has affirmed Belgazprombank's “B” Long-Term Issuer Default Rating (IDR) with Negative Outlook removing the bank’s ratings from Rating Watch Negative.
New Management Board of Belgazprombank has been appointed
Press office.

On 8 December 2020 the Board of Directors of Belgazprombank unanimously adopted a decision to introduce changes to the Management Board of the bank (the decision executed by the Minutes No. 4 as of 8 December 2020).

Belgazprombank key performance results for 8M 2020
Press office.

On 31 August, Belgazprombank finalized its IFRS financial statements (unaudited) for a 6-month period ended 30 June 2020.

Fitch Ratings places Belgazprombank’s ratings on watch
Press office.

Fitch Ratings has kept Belgazprombank’s ratings unchanged placing them on watch. The action follows the decision of the National Bank of the Republic of Belarus to introduce on 15 June 2020 (for a maximum six months) the temporary administration at Belgazprombank and suspension of powers of the management board of Belgazprombank for the period of the temporary administration.

Belgazprombank 2020 General Shareholders' Meeting
Press office.

The General Shareholders Meeting of Belgazprombank was held on 27 March 2020 and approved the bank’s 2019 performance results. The difficult epidemiological situation in the world caused by the coronavirus pandemic has made its adjustments. The meeting was held using a video conference system.

Fitch Affirms Belgazprombank at "B", Outlook Stable
Press office.
Fitch Ratings affirmed the Long-term Issuer Default Ratings (IDR) of Belgazprombank at 'B' with Stable Outlook.
Belgazprombank 2019 General Shareholders' Meeting held in Minsk
Press office.

The bank's 2019 performance results were approved by the General Shareholders' Meeting of Belgazprombank held on 22 March 2019 in Minsk in the conference hall of Hotel "Europe". The bank's activities in 2018 were aimed at achieving the indicators defined by the Strategic Development Plan for 2017-2020.

Belgazprombank is the first to issue cards of international payment system UnionPay
Press office.

Belgazprombank became the first bank in Belarus which started issuing cards of international payment system UnionPay. This was announced at the press-conference held on February 21, 2019 at the gallery Art-Belarus, which was attended by the Main Representative of UnionPay International in Russia and Belarus Sasha Fanj, the Deputy Chairman of the Managing Board of Belgazprombank Kiryl Badzei and the Director of Retail Business Development and Support Department Dmitry Furs.

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